By Andrea Heisinger
New York, Dec. 2 - Citigroup Inc. priced $5.5 billion of notes (Aaa/AAA/AAA) in three tranches Tuesday under the Federal Deposit Insurance Corp. Temporary Liquidity Guarantee Program, an informed source said.
The $1 billion of two-year floating-rate notes priced at par to yield three-month Libor plus 55 basis points.
The $750 million of three-year floaters priced at par to yield one-month Libor plus 80 bps.
The $3.75 billion of three-year fixed-rate notes priced to yield Treasuries plus 296.2 bps.
Full terms were not available at press time pending the completion of an FWP filing with the Securities and Exchange Commission.
All of the notes are non-callable.
The two floating-rate tranches priced in line with talk, the source said, which was in the Libor plus 55 bps area for the two-year notes and in the one-month Libor plus 80 bps area for the three-year notes.
The financial services company is based in New York City.
Issuer: | Citigroup Inc.
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Guarantor: | Federal Deposit Insurance Corp.
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Issue: | FDIC-guaranteed notes
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Total amount: | $5.5 billion
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Bookrunner: | Citigroup Global Markets
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Trade date: | Dec. 2
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Ratings: | Moody's: Aaa
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| Standard & Poor's: AAA
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| Fitch: AAA
|
|
Two-year floaters
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Amount: | $1 billion
|
Maturity: | 2010
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Coupon: | Three-month Libor plus 55 bps
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Price: | Par
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Yield: | Three-month Libor plus 55 bps
|
Call: | Non-callable
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Price talk: | Libor plus 55 bps area
|
|
Three-year floaters
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Amount: | $750 million
|
Maturity: | 2011
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Coupon: | One-month Libor plus 80 bps
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Price: | Par
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Yield: | One-month Libor plus 80 bps
|
Call: | Non-callable
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Price talk: | One-month Libor plus 80 bps area
|
|
Three-year notes
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Amount: | $3.75 billion
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Issue: | Fixed-rate notes
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Maturity: | 2011
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Spread: | Treasuries plus 296.2 bps
|
Call: | Non-callable
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